Practice expansion starts with a thorough Market Assessment and includes thorough analysis of strategic direction and options for the practice. CFA's Practice Expansion planning process is designed to identify the key challenges facing the client's practice and the opportunities to grow the practice. The process typically includes the following components:
- Evaluation of the local and regional cardiovascular services market
- Examination of pertinent national and regional trends in providing cardiovascular services
- Evaluation of regional medical community support
- Quantification of the local/regional market for cardiothoracic and vascular surgery and invasive/interventional cardiology procedures; detailed analysis of the client's current market capture levels
- Examination of the opportunities/recommended approaches for market capture
- Delineation of practice additions and/or enhancements necessary for continued growth of the practice
- Evaluation of the system for the physicians to measure, monitor and report practice performance and outcomes measures
- Delineation of practice strengths, weaknesses, opportunities and threats (SWOT analysis)
- Detailed specification of key success factors and recommendations
- Comprehensive strategies, goals and tactics for practice expansion and development
CFA assists its client practices to make sound business decisions regarding practice expansion.